The Financial Action Task Force (FATF) has issued an important update to its globally recognized AML/CFT framework. The 40 Recommendations, originally adopted on 16 February 2012, form the cornerstone of international efforts to combat money laundering, terrorist financing, and the financing of proliferation.

At its June 2025 Plenary, the FATF introduced targeted revisions to Recommendation 16 on payment transparency. These changes are designed to:

• Clarify responsibilities across all parties involved in a payment chain,
• Standardize information requirements for payers and payees,
• Encourage the use of technological tools that reduce fraud, detect errors, and enhance data reliability in cross-border payments.

The FATF Recommendations are not only the basis for domestic AML/CFT measures but are also used by international assessment bodies to evaluate a country’s technical compliance and effectiveness in implementing robust anti-financial crime controls.

The Updated FATF Recommendations are available here